THE government plans to establish more than 20 centres for entrepreneurship, aimed at fostering a sustainable entrepreneurial ecosystem in SA, Small Business Minister Lindiwe Zulu says.
Small and medium-size enterprises (SMEs) are expected to create 90% of the 11-million jobs envisaged by the National Development Plan (NDP) by 2030.
Ms Zulu said the government remained concerned that small businesses had an exceedingly high failure rate, and that most of the casualties were of women-owned businesses. The centres would act as nurturing ground for the sector.
"Researchers tell us that the failure rate for new businesses is almost 80% in the first year, and only about half of those that survive remain in business for the next five years," she told the Consumer Goods Council of SA summit this week. READ MORE
Source: www.bdlive.co.za
Small and medium-size enterprises (SMEs) are expected to create 90% of the 11-million jobs envisaged by the National Development Plan (NDP) by 2030.
Ms Zulu said the government remained concerned that small businesses had an exceedingly high failure rate, and that most of the casualties were of women-owned businesses. The centres would act as nurturing ground for the sector.
"Researchers tell us that the failure rate for new businesses is almost 80% in the first year, and only about half of those that survive remain in business for the next five years," she told the Consumer Goods Council of SA summit this week. READ MORE
Source: www.bdlive.co.za
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